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2. Kevin purchased a machine for $35,000 using a 6 year loan at 6.90% compounded semi-annually. If the first payment was made one month from

2. Kevin purchased a machine for $35,000 using a 6 year loan at 6.90% compounded semi-annually. If the first payment was made one month from when he purchased the machine, what is the size of the monthly payments?

Round to the nearest cent

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